Title LVI, Probate Courts and Decedents' Estates

(a) If a registered agent changes its address to another place in this state, then it may change the address of the registered office of any foundation for which it is a registered agent by filing with the secretary of state a notice of change of address. (b) The notice of change…

(a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing author…

(a) To the extent that a settlor's interest in an irrevocable trust is not subject to a spendthrift provision, a creditor or assignee of the settlor may reach the maximum amount of trust property that can be distributed to or for the benefit of the settlor. (b) If the trust has m…

(a) On the effective date of RSA 564-B:5-505A, RSA 564-B:5-505A shall apply to: (1) Any transfer that: (A) Was made before the effective date of RSA 564-B:5-505A; and (B) Qualified as a qualified disposition within the meaning of RSA 564-D:1, VII, as in effect immediately before …

(a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) elections and decisions, other than those described in subsection (b), tha…

(a) In this section, "mandatory distribution" means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term excludes a distribution subject to the ex…

(a) A foundation may change its registered office by filing with the secretary of state a notice of change of registered office. (b) The notice of change of registered office shall set forth: (1) The foundation's name; (2) The street address of the foundation's current registered…

Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.

(a) A foundation's registered agent is the foundation's agent for service of process, notice, or demand required or permitted by law to be served on the foundation. (b) A foundation may be served by registered mail or certified mail if: (1) The foundation does not have a register…

(a) Upon the death of a settlor of a trust, a trustee may dispose of a known claim against the settlor if the trustee sends to the claimant a notice described in subsection (c). For purposes of this section, a "known claim" is an actual or potential claim of which the trustee has…

(a) Upon the termination of an irrevocable trust, a trustee may dispose of a known claim against the trust if the trustee sends to the claimant a notice described in subsection (c). For purposes of this section, a known claim is an actual or potential claim of which the trustee h…

(a) A beneficiary is not personally liable on a contract into which a trustee, trust advisor, or trust protector properly enters in the course of administering the trust, unless the beneficiary expressly agrees to be personally liable on that contract. (b) A beneficiary is not pe…

(a) A settlor of an irrevocable trust is not personally liable on a contract into which a trustee, trust advisor, or trust protector properly enters in the course of administering the trust, unless the settlor expressly agrees to be personally liable on that contract. (b) A settl…

Any national bank desiring to be appointed trustee shall first file with the attorney general, in such form as he may direct, its consent to an examination of its trust department by the bank commissioners of this state, and acknowledge itself amenable to the jurisdiction of the …

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provision…

The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will.

(a) A foundation shall have one or more purposes. (b) Each of the purposes shall be: (1) Lawful; (2) Not contrary to public policy; and (3) Possible to achieve. (c) A foundation's purposes may include any charitable purpose and any noncharitable purpose.

(a) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this chapter. (b) If a revocable trust is create…

(a) The effective date of this chapter shall be January 1, 2007. (b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply: (1) to every inter vivos trust created on or after the effective date of this chapter except as other…

(a) While a trust is revocable and the settlor has capacity to revoke the trust, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor. (b) During the period the power may be exercised, the holder of a power …

If a trust was revocable at the settlor's death, then a person may commence a judicial proceeding to contest the validity of that trust in accordance with RSA 564-B:4-406, and the trustee may proceed to distribute the trust property in accordance with RSA 564-B:4-406.

Any person appointed a trustee who shall neglect or refuse to give bond when required shall be considered as having declined the acceptance of the trust.

(a) Except as otherwise provided in subsection (c), a person designated as trustee accepts the trusteeship: (1) by substantially complying with a method of acceptance provided in the terms of the trust; or (2) if the terms of the trust do not provide a method or the method provid…

(a) The founder, organizers, or initial directors shall adopt the foundation's initial bylaws. (b) The foundation's bylaws shall set forth each of the foundation's purposes. (c) Except to the extent that it is inconsistent with the certificate of formation, this chapter, or any o…

(a) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement. (b) The court may…

(a) The founder may reserve any one or more powers, rights, and interests, including any of the following: (1) The power to amend or restate the foundation's certificate of formation; (2) The power to amend, restate, or revoke the foundation's bylaws; (3) The power to appoint any…

(a) Cotrustees who are unable to reach a unanimous decision may act by majority decision. (b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust. (c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee i…

Unless the governing documents provide otherwise, the following persons may revoke, amend, or restate the bylaws: (a) The founder; or (b) The board of directors.

(a) A vacancy in a trusteeship occurs if: (1) a person designated as trustee rejects the trusteeship; (2) a person designated as trustee cannot be identified or does not exist; (3) a trustee resigns; (4) a trustee is disqualified or removed; (5) a trustee dies; or (6) a guardian …

(a) A trustee may resign: (1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or (2) with the approval of the court. (b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for…

(a) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative. (b) In addition to the power to remove a trustee pursuant to RSA 564:9, the court may remove a trustee if: (1) the trustee has…

(a) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the …

(a) If the terms of a trust do not specify the trustee's, trust advisor's, or trust protector's compensation, each such fiduciary is entitled to compensation that is reasonable under the circumstances. (b) If the terms of a trust specify the trustee's, trust advisor's, or trust p…

(a) A trustee, trust advisor, or trust protector is entitled to be reimbursed out of the trust property, with interest as appropriate, for: (1) expenses that were properly incurred in the administration of the trust; and (2) to the extent necessary to prevent unjust enrichment of…

Nothing in this article is intended to modify or limit the provisions of RSA 564 as they apply to testamentary trusts. To the extent the provisions of this article conflict with the provisions of RSA 564 as they apply to testamentary trusts, the provisions of RSA 564 shall contro…

(a) A divided trust is a trust in which the terms of the trust divide powers and duties among 2 or more trustees, trust advisors, and trust protectors, vesting one or more powers and duties exclusively in one or more of those persons to the exclusion of the other persons. (b) A d…

(a) Unless the terms of the trust provide otherwise, a trustee shall be vested with any power or duty that the terms of the trust otherwise vest exclusively in a trust advisor, trust protector, or cotrustee during any time when, as the result of a vacancy in the office of trust a…

A trustee appointed by will or by the judge in pursuance of this chapter may, upon request in writing to the judge, be permitted to resign the trust if the judge thinks it expedient.

Upon acceptance of a trusteeship, the trustee shall administer, invest and manage the trust and distribute the trust property in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this chapter.

(a) Unless the governing documents provide otherwise, a foundation shall have the power to do all things necessary or convenient to carry out its activities and internal affairs, including the capacity to sue and be sued in its own name. (b) Subject to subsection (c), the validit…

(a) A trustee shall administer, invest and manage the trust and distribute the trust property solely in the interests of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee as provided in RSA 564-B:10-1012, a sale, encumbrance, or other t…

(a) A foundation shall have trust powers to the extent that it: (1) Does not transact business with the general public; (2) Is a family trust company as defined in RSA 383-A:2-201(a)(26); or (3) Is a foreign family trust company that is authorized to engage in trust business in t…

If a trust has 2 or more beneficiaries, the trustee shall act impartially in administering, investing, managing, and distributing the trust property, giving due regard to the beneficiaries' respective interests.

A trustee shall administer, invest, and manage the trust and distribute the trust property as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise rea…

In administering, investing, and managing the trust and distributing the trust property, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.

A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.